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Laura Gimenez is ITA’s Senior Industrial Officer on the U.S. Embassy in Bucharest
That is the 2nd submit in a weblog collection concerning the totally different markets that can be featured throughout Commerce Winds Europe/Eurasia.
Commerce Winds, the U.S. authorities’s largest annual commerce mission, is barely 4 months away! In Might, a whole lot of U.S. firms will collect with overseas patrons, buyers and distributors to discover worldwide gross sales alternatives in Europe and Eurasia, together with an elective cease in Bucharest, Romania between Might 9-10, 2024.
Situated on the Black Sea, Romania sits on the nexus of Europe, Eurasia and the Center East and provides alternatives for U.S. companies in a wide range of sectors. Moreover, our industrial relationship is on the rise—over the previous decade, whole U.S.-Romania commerce has virtually doubled, reaching over $5.1 billion in 2022.
A member of the European Union (EU), Romania has entry to the EU’s Cohesion Fund, which goals to strengthen sure EU Member States’ social and financial integration into the EU. Particularly, these funds contribute to funding in infrastructure, vitality, healthcare and IT methods—all of which current alternatives for U.S. exporters exploring the Romanian market.
In gentle of Russia’s illegal invasion of Ukraine and Romania’s want to fulfill its renewable vitality aims, Romania additionally seeks to extend its independence and safety in each the vitality and agribusiness sectors. The Export-Import Financial institution of the US (EXIM) and the U.S. Worldwide Improvement Finance Company are excited about financing initiatives throughout many sectors in Romania, with explicit consideration to vitality.
Romania can be a powerful North Atlantic Treaty Group (NATO) ally, spending roughly 2.5 p.c of its gross home product (GDP) on protection in 2023. Final yr, the Worldwide Commerce Administration introduced 23 U.S. protection and aerospace exporters to Romania for a two-day commerce mission, throughout which practically 300 tailor-made business-to-business and business-to-government conferences came about. Evidently, there’s sturdy demand within the Romanian marketplace for progressive U.S.-made protection options.
As well as, Romania is an data expertise chief in Europe, with the best variety of licensed IT specialists per capita on the continent, based on the Romanian Nationwide Institute of Statistics. The nation is a hub for tech enterprise and innovation, with the sector in Romania having quadrupled its measurement in each income and workforce over the previous a number of years.
For all these causes and extra, it’s no shock that Romania was chosen as a mission cease for the Commerce Winds Europe/Eurasia on Might 9-10, 2024. For extra data and registration for Commerce Winds Enterprise Discussion board in Istanbul, Might 13-15, and different mission stops in Italy, Poland, Türkiye, Denmark and/or Kazakhstan, please go to the Commerce Winds Europe/Eurasia webpage.
